Carter played in 26 games over two seasons for the Colts, rushing for 499 yards and five touchdowns on 133 carries. As a rookie, he ran for 377 yards on 101 rushes.

"This trade gives us a chance to improve in key areas moving forward," Colts general manager Ryan Grigson said. "David is a very competitive football player and we welcome his style of play and energy."

Reed was with the Ravens for three years and totaled five catches for 66 yards and also returned kickoffs, averaging 29.5 yards, in 29 games, and played on special teams.